Mrs. Rose derives ₹5,40,000 by way of income from sale of coffee grown and manufactured in India. The income chargeable to income-tax would be —

CS Executive · Tax Laws and Practice · PYQS · December 2016
Mrs. Rose derives ₹5,40,000 by way of income from sale of coffee grown and manufactured in India. The income chargeable to income-tax would be —
(A) 50%, i.e., ₹2,70,000
(B) 25%, i.e., ₹1,35,000
(C) 40%, i.e., ₹2,16,000
(D) 60%, i.e., ₹3,24,000.

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax

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